HDFC Bank had started operations in the Valley in 2005 and has plans of extending its network to Valley by opening four more branches in the Valley. India’s new generating private sector bank, HDFC Bank, has plans to open two branches in Srinagar and one each in north and south Kashmir. The bank will also for the first time opening some off-site ATMs to cater to its customers in the Valley.
“The new branches at Islamabad and Sopur will start functioning from the second week of next month,” said Zubair Iqbal, Cluster Head, and Northern Region (HDFC).
Zubair said the bank will probably be giving a tuff competition to the rural banks. “The customers in the rural areas still bank upon the traditional modes of banking. But we will be providing them with all modern banking facilities and up to the mark services in these areas”.
He informed that the service to be provided by the bank at its new branches in the Valley will be equivalent with the core banking facilities it provides to its customers in metropolitan cities in India.
He told the branches will also have site ATMs. The bank since its operations in the Valley has cultivated a huge customer base and now the bank has plans to expand its network in Srinagar by opening its branches at Karan Nagar and Maharaj Gunj. “Owing to the tremendous customer response, we are opening a branch in downtown Srinagar in Maharaj Gunj in May to cater the Downtown customers,” Zubair said.
To provide better facilities and making banking transactions easy for the huge customer base the bank will also be opening the off site ATMs for the first time. The off site ATMs will be opened at Hyderpora Airport Road, Karan Nagar, Boulevard Road and Saraf Kadal in the downtown.
With the opening of four new branches the total number of branches of the bank in the Valley will go up to seven. Presently bank has two branches, one at Residency Road and another at Hari Singh high Street here with three on site ATMs.
By 2009 the Bank might open fifteen branches in the Valley.